CVSB vs. CDEI
CVSB (Calvert Ultra-Short Investment Grade ETF) and CDEI (Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF) are both exchange-traded funds - CVSB is a Ultrashort Bond fund actively managed by Calvert, while CDEI is a Large Cap Blend Equities fund tracking the Russell 1000 Index. CVSB is actively managed, while CDEI is passively managed. Over the past 3 years, CVSB returned 5.54%/yr vs 19.04%/yr for CDEI. At a 0.06 correlation, their price movements are largely independent. CVSB charges 0.24%/yr vs 0.14%/yr for CDEI.
Performance
CVSB vs. CDEI - Performance Comparison
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Returns By Period
In the year-to-date period, CVSB achieves a 1.48% return, which is significantly lower than CDEI's 8.69% return.
CVSB
- 1D
- -0.01%
- 1M
- 0.28%
- YTD
- 1.48%
- 6M
- 2.03%
- 1Y
- 4.48%
- 3Y*
- 5.54%
- 5Y*
- —
- 10Y*
- —
CDEI
- 1D
- -1.07%
- 1M
- 4.21%
- YTD
- 8.69%
- 6M
- 8.86%
- 1Y
- 26.09%
- 3Y*
- 19.04%
- 5Y*
- —
- 10Y*
- —
CVSB vs. CDEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CVSB Calvert Ultra-Short Investment Grade ETF | 1.48% | 4.92% | 6.23% | 5.40% |
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF | 8.69% | 16.60% | 18.67% | 20.47% |
Correlation
The correlation between CVSB and CDEI is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023 | 0.06 |
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Return for Risk
CVSB vs. CDEI — Risk / Return Rank
CVSB
CDEI
CVSB vs. CDEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert Ultra-Short Investment Grade ETF (CVSB) and Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CVSB | CDEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.94 | ||
| Sortino ratioReturn per unit of downside risk | +5.81 | ||
| Omega ratioGain probability vs. loss probability | 2.38 | 1.38 | +1.00 |
| Calmar ratioReturn relative to maximum drawdown | 19.85 | 2.65 | +17.20 |
| Martin ratioReturn relative to average drawdown | 80.53 | 11.52 | +69.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CVSB | CDEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.12 | 2.18 | +2.94 |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.13 | 1.31 | +2.83 |
Drawdowns
CVSB vs. CDEI - Drawdown Comparison
The maximum CVSB drawdown since its inception was -0.63%, smaller than the maximum CDEI drawdown of -19.46%. Use the drawdown chart below to compare losses from any high point for CVSB and CDEI.
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Drawdown Indicators
| CVSB | CDEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.63% | -19.46% | +18.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -9.88% | +9.65% |
Max Drawdown (3Y)Largest decline over 3 years | -0.63% | -19.46% | +18.83% |
Current DrawdownCurrent decline from peak | -0.03% | -1.18% | +1.15% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -2.28% | +2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 2.27% | -2.21% |
Volatility
CVSB vs. CDEI - Volatility Comparison
The current volatility for Calvert Ultra-Short Investment Grade ETF (CVSB) is 0.15%, while Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) has a volatility of 3.00%. This indicates that CVSB experiences smaller price fluctuations and is considered to be less risky than CDEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVSB | CDEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 3.00% | -2.85% |
Volatility (6M)Calculated over the trailing 6-month period | 0.53% | 9.19% | -8.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.88% | 12.05% | -11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.32% | 15.02% | -13.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.32% | 15.02% | -13.70% |
CVSB vs. CDEI - Expense Ratio Comparison
CVSB has a 0.24% expense ratio, which is higher than CDEI's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CVSB vs. CDEI - Dividend Comparison
CVSB's dividend yield for the trailing twelve months is around 4.37%, more than CDEI's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF | 0.97% | 1.05% | 1.22% | 1.16% |
CVSB Calvert Ultra-Short Investment Grade ETF | 4.37% | 4.72% | 5.13% | 4.95% |
Frequently Asked Questions
CVSB and CDEI have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDEI has higher volatility (3.00%) compared to CVSB (0.15%). In terms of maximum drawdown, CVSB dropped -0.63% vs CDEI's -19.46%.
On 3-year performance, CDEI leads with 19.04% vs 5.54% for CVSB. On fees, CDEI is cheaper at 0.14% per year. On volatility, CVSB has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CDEI has performed better with a 19.04% return vs 5.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDEI is cheaper with a 0.14% expense ratio, compared with 0.24% for CVSB.
CVSB has the higher dividend yield at 4.37%, compared with 0.97% for CDEI.
CVSB is categorized as Ultrashort Bond, while CDEI is Large Cap Blend Equities. Their fees differ too: 0.24% for CVSB and 0.14% for CDEI.
CVSB currently has the higher Sharpe Ratio (5.12 vs 2.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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